Tropicana poised to hit RM1.1bil sales target

Tropicana group chief executive officer Lee Han Ming

KUALA LUMPUR: Tropicana Corp Bhd is on track to hit its sales target of RM1.1bil for 2021, backed by strategic offline and online marketing campaigns conducted throughout the year.

Staying true to its digital-focused strategy, the property developer said in a statement yesterday that it rolled out intensive digital marketing campaigns in 2021.

They included introducing virtual sales galleries and hosting many webinars, all of which helped the group to expand its customer engagement experience, reach a targeted millennial demographic and ultimately secure more sales.

“Prospective buyers can expect more exciting launches from Tropicana in 2022.

“From high-rise buildings to landed residences, as well as holiday homes and commercial properties, the launches will be happening in the company’s existing townships in Selangor and Johor, as well as new hotspots in Genting Highlands and Langkawi.”

In the same statement, Tropicana group chief executive officer Lee Han Ming said the company wrapped up the year by winning 10 more prestigious awards in December.

Lee dedicated the awards to the group’s stakeholders and the Tropicana team for their contributions.

“We are proud to be associated with this distinction that is synonymous with our aspirations. Established in 1979, Tropicana actively seeks to redefine the art of living by building wholesome townships.

“The group has planned over six townships and completed more than 60 developments across Malaysia. We learn that now, more than ever, the importance of building a strong brand backed by a dedicated team,” he said.

For the nine-month period ended Sept 30, 2021, Tropicana recorded revenue of RM606mil, which was mainly contributed by higher sales and progress billings across key projects in the Klang Valley and Southern Region.

During the period under review, Tropicana said its unbilled sales were up by 39% to RM1.2bil, backed by its unique residential, commercial and resort-themed developments.

“Overall, Tropicana’s total land bank stood at 2,452 acres, with a total potential gross development value of RM152.2bil, placing the group in a good position to unlock the value of its strategic land bank and deliver sustainable earnings in the next few years,” it said in an earlier statement.

While the industry remains challenging in the short term, there will still be demand for properties in prime locations in established, mature and developing townships with attractive pricing and innovative ownership packages and offerings, according to Tropicana.

“Therefore, the group will continue to focus on being market-driven in its product offerings whilst continuing to unlock the value of its land bank at strategic locations across the Klang Valley, Genting Highlands and southern regions.

“Tropicana will also continue to focus on the introduction of new phases across its signature and established developments, namely Tropicana Heights, Tropicana Aman, Tropicana Metropark, as well as Tropicana Uplands and Tropicana Alma in Johor.”

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